KuCoin Postpones KARRAT/USDT Trade Launch; Announces Strong First-Quarter Performance

The cryptocurrency platform KuCoin has postponed the introduction of the KARRAT/USDT trading pair, honoring a request from the Karratcoin team. The precise cause for the delay has not been provided by the exchange. This move coincides with KuCoin’s announcement of favorable earnings for the first quarter.

First-Quarter Growth for KuCoin

For the early part of 2024, the exchange KuCoin has reported a substantial surge in operations. The platform experienced an incredible 121.85% leap in spot trading volume, with the MENA region showcasing the strongest expansion at 263.91%. The exchange’s pre-market trading volume ascended to 23.12 million, up by 68% from the last quarter, while the user count grew by 47%, reaching over 13,500 distinct users.

KuCoin’s registered user tally experienced a 4.32% climb by the end of March 2024 from the quarter before, reaching close to 32 million. This growth is a testament to the variety and quality of services offered to bitcoin enthusiasts of all proficiency levels.

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Leading Expansion in Latin America for KuCoin

The first quarter of 2024 saw Latin America leading KuCoin’s user base growth with a 16.26% climb. The Middle East and Africa (11.29%) and Europe (6.98%) also reported noteworthy hikes in their user bases over the previous quarter. Similarly, the spot trading volumes for these regions surged, especially for Africa and the Middle East, mirroring the MENA region’s 263.91% increase.

Broadening Adoption of KuCoin Token

The in-house token of KuCoin, KCS, enjoyed a strong opening quarter in 2024. The token’s holder base expanded by over 2 million, marking a 4.06% enhancement from the last quarter. KCS holders benefit from rebates on transaction fees and are privy to various services including lending, liquidity mining, and staking on the platform.

The encouraging outcomes have influenced KCS’s market price, which currently sits at $8.4403. With a $2.5 million 24-hour trading volume, the cryptocurrency has appreciated by 3.31% recently. Currently, KCS fluctuates between $8.5 and $8.3, with a live market capitalization of $811.4 million.

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